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tv   Markets Now  FOX Business  February 18, 2013 11:00am-1:00pm EST

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stuart: let's see what we have on the highlight reel. those demonstrators do not want the keystone pipeline. >> they now have political freedom to do something that i think is reasonable and responsible. stuart: shows almost 70% of the people in this country support keystone. >> we have a real chance of getting it passed through the senate. neil: i wonder how many people at the protest really know anything. stuart: we have about ready seconds left. i want to ask charles, fresh from his -- he does not like
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tiffany. he likes harry winston. charles: a long time ago. >> he has come a very long way from his everclear days. [ laughter ] stuart: what was everclear again, charles? charles: 100% proof moonshine. stuart: i think this will make a reappearance tomorrow. dagen, please, take it off our hands. dagen: everclear, the real stuff, comes in a mason jar. i will bring you some. it is fallacious. stuart, thank you very much. i am dagen mcdowell. protesters out in force over the keystone pipeline. our most important trading partner will not be happy if it
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does not get the president go ahead. the fallout for this country. the payoff for nine. a mounting cost for obamacare. the sales tax that could cost americans billions of dollars. good morning, everybody. this is members of both parties working on some sort of bipartisan immigration bill. a copy of president obama's plan has been leaked. illegal immigrants would be allowed to become permanent residents of this country in eight years. marco rubio had this to say. the president bill would be dead on arrival in congress leaving us with unsecured borders and a broken legal immigration system for years to come. stephen moore joins us now from washington, d.c. do you think that the white
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house plan really does throw a wrench into reaching any kind of bipartisan agreement? >> i think this was a real setback. this is very delicate negotiations. you need to find a way to let more immigrants into this country. you need to have a way where people who have been here to have a path to legalization. it has to be coupled with tougher border security. everyone knows that. for some reason, the president is basically saying, we will not move forward with the border security, but we will with these other elements. i think that is a killer. i think marco rubio is right. dagen: why leak it in the first place? in washington, there is always a reason that things come out. >> the groups on the left do not want border security.
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this was sort of an olive branch to the left wings that do not want border security. i think the president was trying to basically reach out and say, look, we will not make it tougher for people to get into this country illegally. i think it comes down to politics, dagen. dagen: there is also the second part of the president plan that the republicans must really hate. it does not lay out the program for low skilled workers in this country. again, the unions have opposed this time and again and businesses are in favor of it. >> this is the one that the business community has been talking about.
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you have a lot of the service industries, the hospitals, the hotels, the restaurant need those workers. you are right, the unions do not like the increased labor force. there are a lot of republicans who believe, and i do not know where the president really stand on this, but a lot of them believe they want to use it as a political issue to get hispanic votes rather than to solve the problem. it made me think, maybe this president really does not want to get a bill signed. dagen: immigration was the one exception to a partisan agenda. steve, do not move. i am going to touch on something else. tens of thousands, you probably saw this video.
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tens of thousands of protesters crowded the national mall in washington, d.c. yesterday to protest plans for the keystone pipeline. if it gets approved, the keystone pipeline will carry oil from canada down to refineries in texas along because the gulf coast. right now we import from venezuela. steve moore is still standing by. the unions want this because it would create jobs. this is a big decision for the president. does he side with energy independence? >> this certainly should not be a tough decision. this really is close to a no-brainer.
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he talked about it over and over again in his state of the union speech. he always talks about union jobs. this is infrastructure. this is union jobs. the great thing about it if it does not cost a penny to the taxpayers because it is all privately financed. even if you agree with the promise that global warming is a big problem and this oil will contribute, you know what, if it is not consumed here, it will be consumed somewhere else. it is not like it will go away. i do not think that the environmentalists have really thought this through. i just think they do not want it. dagen: this oil will go to china. it will be refined there with much looser environmental standards on refineries in that nation. not to make fun of our northern neighbors, but do you really
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want to make this country mad? canada has made it clear that it could retaliate against the u.s. do we need to be worried about this? >> that is a great question. they are part of nafta. most of americans do not realize that our number one trading partner is not china, it is canada. i just really do not understand the rationale of not building this. it was the first reason that president obama gave. now, i see no reason, other than kowtowing to the very radical environmentalists and not bringing this to america. dagen: thank you very much. steve moore from the "wall street journal." thanks again.
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>> thank you, dagen. dagen: let's take a look at the u.s. dollar. trading down versus other major currencies today. agreeing not to target the exchange rates of world currencies. concerns that competitive devaluation could spark a currency war. let's just say, g20 kind of poo-poo'd this. are we not the biggest culprit through the federal reserve of weakening the dollar? >> well, with the federal reserve, their quantitative easing program has been having side effects. i think it is important to recognize that really what the g20, we would not specifically target the exchange rate.
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that would then perhaps trigger a retaliatory action by other trading partners. the federal reserve, they're loose monetary policy, it is almost like an unfortunate side effect. it is not a deliberate factor of the fed. it is something to watch. one of the leading indicators that i am watching is to see whether or not countries will start embracing more capital controls which is restricting the the flow of money because they are concerned about all of the money that could perhaps inflate asset prices. you put it perfectly think that whenever you have loose monetary policy, it does not just show up in consumer prices.
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they can show up in increases in commodity prices and other asset prices as well. that is indeed what we are seeing. sometimes called a reflation. now, they are being replayed it. what you have to watch is whether or not countries start embracing policies. not just in terms. dagen: what country concerned to the most? brazil? >> yes. rozelle is one that i am really watching. they are imposing a tax on foreign holders of various securities that they may have. a lot of south american countries have a spotty history. one area that i am actually finding some encouragement in is china. i think most people recognize that china has a history of composing control.
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they are beginning to relax those controls. i think there may be some pretty good investment opportunities over there. dagen: thank you so much for weighing in on what is always a subject. in facebook, they are revealing it has been a target of a series of attacks on employee computers. shibani joshi joins us with the very latest on this. shibani: pretty scary stuff. there are a billion people on facebook posting what we presume are private photos and videos. facebook did acknowledge via a blog post that it was on the receiving end of a cyber attack. here is, basically, the breath of what happened. the company saying "last month, facebook security discovered
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that our system had been targeted in a sophisticated attack. it occurred when a handful of employees visited a mobile developer site that was compromise. we began a significant investigation that continues to this day. we have no evidence that the facebook user information was compromised in this attack." reuters is reporting the fbi is investigating the details. all of this comes on a wrong string of cyber attacks that we have been reporting on. twitter, for example, just a couple weeks ago that 250,000 users, their accounts getting hacked. the computer systems were hacked and infiltrated by chinese and linkedin last summer that it's password stolen for 6.5 million
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users. with a billion users out there, dagen, many people say it is just a matter of time. protect yourself ahead of time. dagen: thank you, shibani. great to see you. shibani joshi on facebook and hacker attacks, in general. dagen: building stores and possibly in your neighborhood. the megadeal back again. we will show you where investors are looking to get ahead on the next big announcement. legally. take a look at the oil market. it is trading down today. ♪
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today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities.
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siemens. answers. >> announcer: you never know when, but thieves can steal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they can open bogus accounts, stealing your credit, your money and ruining your reputation. that's why you need lifelock to relentlessly protect what matters most... [beeping...] helping stop crooks before your identity is attacked. and now you can have the most comprehensive identity theft protection available today... lifelock ultimate. so for protection you just can't get anywhere else, get lifelock ultimate. >> i didn't know how serious identity theft was until i lost my credit and eventually i lost my home. >> announcer: crit monitoring is not enough, because it tells you after the fact, sometimes as much as 30 days later. with lifelock, as soon as our network spots a threat to your identity, you'll get a proactive
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now! ♪ dagen: let's do it. make some money with charles payne this hour. aruba networks. i hope you had a nice weekend. charles: i know. you two. we will make people money. if you were not here, i would be really sad. it used to be one of these really hot stocks a long time ago. it is a buy. they have reported first-quarter numbers. 21% increase in revenue. the company is doing extraordinarily well. are you familiar with byob? bring your own device. you may have the iphone, i may have a blackberry, someone they
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have something else. just ring your own device, we will set it up, we will, inside the firewalls. morgan stanley upgraded the stock last week. that could be huge. dagen: shouldn't these companies be worried about security? that was always the benefit for a blackberry. charles: there is no dow about that. i think they are at a place now where they are really comfortable. the idea that people could just get their own device, bring it to work and integrated into their work system is appealing to corporate america. i love the way the stock acted last week. dagen: now, you have my
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permission to leave. [ laughter ] dagen: good to see you. thank you, charles payne. google may finally be opening retail stores of its own. following in the footsteps like apple and microsoft. 925 google.com, the first stores are expected to open by the 2013 holiday season. these new stores, google will allow customers to experience google products before purchase. it will surely be cooler than the microsoft store. it may have competition from best buy. beginning march 3, best buy says it will match the pretax price for new, identical and immediately available products. along with 19 competitors.
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it will cut its return. in half to 15 days. maker's mark, bourbon drinkers will not get watered down. it is now reversing it decision to change the formula after announcing plans to cut the amount of alcohol. following the announcement, the company says it heard from thousands of unhappy customers. particularly, those that drink it neat. maker's mark decided to stick to the original. the company's statement on facebook to keep the alcohol content drew over 14,000 likes over two hours. can i get a shout out? come on. there are no makers mark drinkers. do you know why?
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that guy over there, he is cheap. that is why. he does not know good bourbon. [ laughter ] dagen: warren buffett had to apply just one of the major ones to make headlines in the last couple weeks. though buyout boom. spending policies that are laying the groundwork for this country to end up, well, like that. like greece. take a look at how our world currencies are faring against the dollar. ♪
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>> at 24 minutes past the hour, i have your fox news and it. the family of the blade runner's girlfriend wants to know why this happened to her daughter and why he did it.
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country music singer mindy mccready was found that at her home. she was found dead with a single phone -- single gunshot wound. she leaves behind two boys. mccready was 37 years old. more than 50 tiny fragments of the meteor have been taken out of a lake. that is your fox news minute. dagen: that video is incredible. thank you so much, heather. american and u.s. airways deciding to merge.
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warren buffett gobbles up heinz. when will the next action happen? sam joins us now. good to see you. why is this happening, first and foremost? >> american companies are hungry. why is it happening? there really are a couple of main reasons. american companies have never had this much cash. in fact, in 2012, it was a record year with $1.7 trillion in cash from nonbank corporations in the u.s. that is the new record. remember, we have companies like brookshire hathaway. there is a bot of cash burning a hole in their pocket.
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dagen: are companies doing things that are stupid with their money? they paid 19% above the all-time high on not stock. it raises the issue on whether these will be good for the buyers. >> the interest rates have been so low in the banks are willing to accept 0% down. yes, of course, inflates. there is a danger. they do something stupid with their money. so far we have not seen anything crazy. comcast buying nbc makes sense. dagen: what you think the real activity will be in the coming months, even the next year or two, in terms of sectors? will it be healthcare, more food companies, where? >> number one, you will see a
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lot of healthcare. they have a lot of cash in the bank. particularly, you see big global companies. the most active acquirer for a farmer will be -- dagen: what are their earnings? >> virgin media just acquired $24 million. media will be second. third will be technology. we have seen the top ten most active buyers. number one, facebook. number four, twitter. number three, groupon. not in the same dollar volume size. dagen: some of these small deals, they are doing it for the
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talent. they will snap up some of these. >> it is called an aqua higher. dagen: seen it time and again. that is the job market you want to be in. sam, thank you very much. fear and spending concerns that we are only years away from becoming greece. you have heard that before. now it is on the cover. tax dollars going to america's new stadiums. we are live in their water, florida. rich: we are at spring training. government dollars, taxpayers, major league baseball, we will have it all coming up. ♪
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dagen: when it comes to our nation that, following president obama's plan to put the united states on a path to becoming worst off than greece in 22 years, this is according to a recent barron's article. we have two guests with us today. i am not biased based on the
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origin of where i came from. ladies, it is great to see you. i want to know, why is this not a problem? why should we not worry? >> we absolutely should. the fact that it was in the lead story and barrens is a very respected news organization, not interested in scoring political points. they point out that the president said, the state of the union is strong. compared to what? we are in a serious problem here. the president is saying that the deficit is under control. we are not in good shape. we need to be concerned about the fact that we are heading straight towards greece. no need to worry right now.
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why is there reason to act? >> you have two scenarios. dealing with a short-term crisis. we always seem to have a crisis du jour. in august, it will be on the debt ceiling again. it is almost like we are going into a situation where we cannot chew gum and talk at the same time. we do need to take a long-term love. it is a town almost, you know, beholding to itself. dagen: i want to follow up on that. do you believe that part of the democrats alternate plan will not just include increases in taxes, and raising revenues, but will also include serious spending cuts.
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they continue to say there are places in which they can reduce spending. it has been said to look for the president's budget. that is what is really needed right now. the spending cuts that are out there right now are almost touching it at the margin. until we deal with it, we really cannot deal with the long-term affect. >> i wish you were on capitol hill. i wish you were an elected official. the president is saying the exact opposite. they are saying there is not a spending problem. all they are concerned about is raising taxes. if we jacked up the tax rate for the 50% of top earners, that would be miniscule in terms of taking care of any. just a smidgen of what the deficit is.
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it is our element of what they are talking about. all this president is interested in is redistributing income. that is his goal. >> you cannot have it both ways. you cannot blame the president. >> there is hypocrisy on both sides. the president has put forth more spending cuts. dagen: here is my predicament. they will not do anything in washington until they are forced to do it. you are both welcome back anytime. great conversation. kate and patty, thank you both so very much. taxpayers helping to foot the bill for stadiums.
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is this money well spent? rich is live from the spring training facility in clearwater florida. rich: this is the first full week of spring training here. this is the west coast of florida. home to more than a half-dozen spring training facilities. their full-time club, the tampa bay rays are looking for a new home. their stadium in st. petersburg is widely known as one of the worst, if not the worst stadium in major league baseball. they are looking for government financing. there is a bad taste in florida when it comes to government financing. that is thanks to the miami marlins deal.
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we spoke with the mayor of tampa this morning. he said this area will not repeat that. >> i want to be as transparent as possible. that was a strange deal. i think people paid a price for it. there may be some that continue to pay a price for it. i would never do a deal like that. i want the public to know exactly what is in the stadium. i want to make sure we get it done. rich: the tampa bay rays have had a tough deal. back to you. dagen: you, of course, are a yankees fan. >> i am. their spring training facility is right up the road from here. dagen: i was wondering how you got that assignment. rich, thank you.
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it was good to see you. even in florida. rich edson reporting from clearwater florida. ready to pass billions in sales taxes right over to the consumer. forget paying more for chicken and beef. pheasant prices are heading here. jeff: i have to be very quiet. we will get them all excited. im in america's largest pheasant farm. i think i am making the meat talk. we had an interesting tale when i get back, if i survive this. when we get back. business. ♪ [ male announcer ] i've seen incredib things.
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the new c-class is no exception. it's a mercedes-benz through and through. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. >> i have your fox business brief. starbucks is planning to double its fasting in asia. the coffee giant is opening stores in vietnam this month. they plan to have more than 1500 stores in china by 2015. making china and asia pacific region the fastest growing. goldman sachs chief economic strategist says downside economic risks have diminished. yesterday, he says the u.s. economy will grow slowly this year as tax increases and spending cuts offset improvements in the private sector. bruce willis is "a good day to
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die hard" pulled in $25 million. "identity thief" rant and with a close second, 23.4 million. that is the latest from the fox business network. giving you the power to prosper. ♪ customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally.
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♪ dagen: $101.7 billion over the next ten years. the joint committee think this is the cost of a massive new sales tax to pay for obamacare. elizabeth macdonald is here with the bottom line. explain how this is, ultimately, being passed on. >> it is an excise tax or sales tax. look at this number. $7200. health insurers will pass this on. look at this.
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joint committee and taxation think that health insurers will pass this on. expect it to hit the insurance, basically, consumer in the form of higher premiums. they estimate 2.5% greater cost. we have two congressmen looking to repeal this. one out of louisiana and -- want to repeal this, they can. look at this map. it is across the board. new york and california are at the top of the list. it goes across the country. watch out, lower profits, lower
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wages. the health-insurance industry is expecting not to pay the tax on its own. dagen: so, we will all feel it? >> yes. we read the health-insurance reform bill, you see more and more of these types of taxes popping up. health insurers will have to pay a sales tax on their health insurance premiums that they collect. dagen: 10%. it was one of the first taxes. [talking over each other] dagen: it is on tanning beds. 10% excise that. >> you do not look angry. dagen: that was in incredible report. beef and chicken. higher grain prices. jeff flock has the story from
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the capital of north america in janesville, wisconsin. jeff: dagen, we love holidays because we can show you unique american businesses. indeed, this is the largest pheasant farm in america. brad lilly, ceo of mcfarland pheasant. >> we will hatch about a million and a half. we will raise about 150,000 for food. jeff: pheasant is big business. you are hit with those increased costs. >> that is true. the price of the corn and soybean has caused us to be pretty competitive. jeff: you play play these markets more than you ever did
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before. >> that is correct. a big move in the market, if you do not have your feed login, could mean a difference and profit. jeff: pheasant, in terms of feed and food, is big. whole foods just -- you just started selling to whole foods. >> we are in every region that they sell to. jeff: interesting. i love holidays because we can test this, by the way, is a female. the ones with the rings around their necks are males. there you go. hello. how you doing? oh, well. she is doing okay.
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alive. dagen: i love that. thank you, jeff. good to see you. jeff flock in janesville, wisconsin. danica patrick made nascar history yesterday. did we see it coming? sure did. find out more. coming up. ♪ all stations come over to mission a for a final go. this is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet...
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dagen: a historic day at the daytona international speedway yesterday. danica patrick becomes the first woman and nascar history to capture the daytona 500 pole. not only the 500 pole, but she
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was the first woman to capture any nascar pole. the first woman in nascar history. jeff gordon will start second. the daytona 500, of course, takes place this sunday on fox. do not miss it. calm on, rhonda. [ applause ] dagen: if i see any of you all not cheering, i will get up and kick your you know what down to daytona. i mean it. sandra smith joins us now with today's trade. sandra: a lot of the refineries shut down for maintenance in the spring time. if you cannot refine it into gasoline, those prices go higher.
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$3.73. this is a new national average at the pump. if you have been fueling those higher prices, it is not just you. up 13% from a month ago when we were paying $3.30 on average. we are nearing that for dollar mark again. still about a quarter away from there. take a look at that oil market. it is not just oil prices that is playing a big part here. the rally may be starting to run out of steam. stephen schork says it is not about the oil prices right now. it is about the refining capacity. the less we have, the higher the prices will go. both of these products are trading today. the pit sections are close. electronically, all of these are trading.
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our bob gasoline, as you can see, tracking those higher oil prices. exxon, chevron, all of those big oil giant. some of the pressure will be on them. dagen: danica patrick wins the daytona 500 pole and maker's mark goes back to 90 through. a pretty good weekend. the nations largest family farm suing. the president's plan to raise the minimum wage. nine dollars hour. cheryl and dennis have both the pros and cons of that stirring debate and the impact on small business. ♪ [ shapiro ] at legalzoom, you can take care of virtually
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>> announcer: just one little piece of information and they can open bogus accounts, stealing your credit, your money and ruining your reputation. that's why you need lifelock to relentlessly protect what matters most... [beeping...] helping stop crooks before your identity is attacked. and now you can have the most comprehensive identity theft protection available today... lifelock ultimate. so for protection you just can't get anywhere else, get lifelock ultimate. >> i didn't know how serious identity theft was until i lost my credit and eventually i lost my home. >> announcer: credit monitoring is not enough, because it tells you after the fact, sometimes as much as 30 days later. with lifelock, as soon as our network spots a threat to your identity, you'll get a proactive risk alert, protecting you before you become a victim. >> identity theft was a huge, huge problem for me and it's gone away because of lifelock. >> announcer: while no one can stop all identity theft, if criminals do steal your information, lifelock
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will help fix it, with our $1 million service guarantee. don't wait until you bece the next victim. you have so much to protect and nothing to lose when you call lifelock now to get two full months of identity theft protection risk free. use promo code: gethelp.sk-free. if you're not completely satisfied, notify lifelock and you won't pay a cent. order now and also get this shredder to keep your documents out of the wrong hands-- a $29 dollar value, free. get protected now. call the number on your screen or go to lifelock.com to try lifelock protection risk free for a full 60 days. use promo code: gethelp. plus get this document shredder free-- but only if you act right now. call the number on your screen now!
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>> write are coming up on noon eastern time on this monday. hello, everybody, i'm cheryl casone. >> dennis: i'm dennis kneale. the largest family owned farm suing workers union for libel, a story only seen here. cheryl: why world central bankers could have opened the gates to what they were hoping to avoid. dennis: gas prices up 41 cents hitting your wallet at the same time as high heating prices. cheryl: small business fighting back against president obama's call to raise minimum wage. we'll debate; you'll prosper. dennis: a union fight down on the farm. the nation's largest grower of
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beaches, plums, and nectarines is locked in a dispute with the worker's union in fresno, california, against the united farm workers. we have the farm lawyer, david, hello, david. the ufw, what an election to represent, way back in 1990, but your lawsuit says the union never showed up and absent for 20 years, but then wanted to bargain. why is the farm, the big ag company, now, suing ufw for libel? >> well, good morning from los angeles. the first point i want to make is that the union approached the company 20 years after the election, and as we allege in the complaint, 20 # years of inactivity on behalf of the workers so when they approached the company, the first question that was asked as we said in the complaint is, where have you been?
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the union's response, essentially, was it's none of your business, and we have no legal obligation to tell you why we abandoned the workers. they went to the president's business journal and said that they were fighting with the union for 20 years rather than negotiating. as we said in the complaint, they also stated falsely that the company refused to cooperate instead of making objections. those kinds of allegations are false and had the union believed that the company was not negotiating in good faith, it could have exercised any number of remedies. it didn't. the reason why it didn't is because what they say in that article was untrue, but those statements hurt this company in an environment an in an industry that are sensitivity. dennis: david, we have to move faster. 95% of the workers were not at the company when the union vote happened 20 years ago.
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now, what gives the union the right to come in 20 years later saying, hey, we're your representative? >> the union's position essentially is that it is certified until desert mid, -- decertify, and until they are desert my by a vote of the workers, than can continue to represent the workers even to the election was more than two decades ago. dennis: must be nice. we ran a screen showing they treat workers well, pay $10 an hour, give scholarships to the children, and the ufw is dying on the vine, 20,000 members in 2000, and now fewer than 5,000. is this a bid by the united farm workers to double or triple the size because they are up to 12,000 employees at peak harvest season. >> well, when you count both direct hires and contractors,
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that's the right number, about 12,000. the consequences of imposing agreements on workers and on the company would double, at least, their memberships in the valley and throughout the state. dennis: have your employees asked for the union to come in and do this or has the union taken it upon itself? >> we have no understanding or knowledge as to whether the workers, themselves, have niche -- initiated this. we know four months ago, the union came to us after a 20-year period of acquiescence saying they were ready to negotiate. it was a request made by the union, but not made to, by my knowledge, by our workers. dennis: the workers want to vote on the union again to see if they want to be represented by them given how conditions are good? >> i think it's a bedrock principle of labor law and fundamental principle of freedom
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of self-organization that workers ought to be begin -- given a chance to have someone represent them at the bargaining table. that's embedded in the law law applicable to workers throughout the nation and ought to be in this situation. dennis: we asked the united farm workers for comment on this, i e-mailed and put calls to them, but have not heard anything yet. thank you for being with us, david. >> thank you so much. cheryl: well, here you go, the dollar continuing its hot streak against the yen as the g20 opens the door to an all-out currency war. joining me now, adam, i the chief strt gist, and leader of capital ceo, adam, hello to both of you, but i want to start with you. you know, the g20 gave permission to japan and other members to have policies to weaken their currencies. it doesn't seem this behavior poses a threat to global or u.s.
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growth efforts. why is that not a concern? why did the g20 over the weekend, adam, ignore what we see over the world? >> thank you. i think the g20 has basically been ignored by most people. it's not that important anymore in the world currency markets because the currencies tend to do whatever they want to do. looking at the dollar-yen relationship, we see the dollar still going higher on that front, probably to a hundred. it's been there before. it's going to go there again. the currencies, the japanese yen was way, way too high in my opinion. we're going to see the dollar improving. there's other currencies very much in the news, and i think probably interesting, too, you can look at the euro, and you can look at the swiss frank, for example, a much better trade in my feeling. cheryl: currency markets are open today, hence the fact we're talking about this, and, john, euro and dollar stronger today versus the yen in particular, because, i don't know, the japanese got away with something over the weekend many are
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saying. i want to talk to the dollar to you, john, because this affects american companies, this affects our economy. the dollar over the last three months up 15% versus the yen. against the euro is another story, john, but ben bernanke, this environment, is it stifling growth in the united states? >> it is going to stifle growth in the united states, but, look, the problem here with japan is really simple. they don't want another greece. japan's running 200% debt to gdp, and they can't have it. they can't have japan implode. they are going to give them that relief, and politically, in order to do that, they have to be impartial and do that for everybody. what's that mean for the u.s.? the dollar goes up, exports wane, means -- but also means commodity prices go lower. it's a mixed bag. ultimately, it's going to hurt the domestic, you know, economy; however, you know, in terms of the stock market, which i think the viewers are interested in, i
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think that with the s&p garnering 60% of its growth overseas, probably helps irnings growth in the s&p, and i think it continues to march on. cheryl: i does. you're a currency strategist rather than a stock picker, but they have earnings that do grow and revenues grow because of the weaker dollar, a bonus for them, but, again, inflation, if we get that later this year, early next year, this is where the japanese had missteps, adam, you get into problems, hence, hours about a currency war occurring around the world. >> back to the stock market, we approach the market from a technical basis and bullish on the u.s. target. all the world's currencies go higher at the same time pretty much, but the u.s. markets, looking at the s&p 500, for example, to go to 1550 to 1600 and the dough to 16400 to 16600.
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the currencies erode against the dollar for the most part. the yen is a special side market. i think the markets really kind of weaken against the -- the yen, the dollar in this case. cheryl: right. to john, luckily, the european situation has improved over the last few months, and spain really dodging a bullet with their economy over the weekend. we got data this morning on spain, but, at the same time, john, a basic question. if the euro is down, the dollar's down, the yen is down, but there's still growth in these economies. do we net a positive here? >> look, long term we'll have positive, but i also like a caveat here. look, with the dollar moving up, okay, the correlation to the, you know, rising dollar versus the target, definitely negative correlation. i think the dollar moving up here, plus the sequestering that's coming, is probably going to give the stock market short
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run a punch in the nose, a 10% correction in the next 30 days. that's the call. i don't like short term calls like that, but i think we get that. to adam's point, we have to reload the gun here a little bit, technically, to move through these highs. i do think that that is an order, but, again, i think by the dips here has been a good theme, and i think that'll continue. i think in the short run for the viewers, you know, you mightment to be a little cautious. cheryl: viewers want to make money when the marg's open tomorrow, gentlemen, and that's why we talk about this today. >> one thing -- cheryl: real quick, yes. >> we're bearish on the dollar other than against the yen. cheryl: all right. both of you, thank you for being here, appreciate it. thanks, gentlemen. >> thanks very much. dennis: despite earning a little over $1 billion in profits last year, facebook paid no federal or state taxes in 2012. in fact, social media giant will be getting a refunneled of
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around $249 million because of a tax deduction because of tax options. cheryl: they are the series of hack attacks on employee computers. we have facebook's fiscal issues and technical issues. start with the fiscal issues, though. were you surprised they paid no state taxes? california must be about to fall off into the ocean right now. >> because california needs the money. i mean, the state and the local municipalities were waiting. we need the tax money in order to grow and fill our coffers after this tremendous spending. i think it's a tremendous shock, but i don't think they are going to get away with it in the sense this was sort of a manipulation of funds. it's, you know, a tax deduction. they'll pay taxes, but for this fiscal year, it didn't work out that way. dennis: the employees got a wind fall because the company made hundreds or dozens of millionaires made taxes selling stock in the ipo in california.
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>> right. the corporate rules are different than the individual rules; right? those who sold stock, they ended up having to pay capital gains on it. cheryl: appreciate you going in the other direction, but talk about the technical issues now for facebook. again, these attacks on the company by hackers is causing pr problems. what does this mean for the company overall, the financials? >> overall, the issue of privacy and security remains issue one for this company. you got a billion users putting private photos, vieft -- private videos -- dennis: for everyone to see. >> that they believe are to be private, but unlike twitter. with facebook, it's personal and private. with the security breaches like the one the company exposed friday evening said we have no evidence that facebook user data was compromised in this attack is troubling because of the
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amount of data they have, and, also, the fact that the company was not alone. also on a company blog, it was not just facebook attacked, but in other website. facebook is working with the fbi. this is just not what you want to hear when it comes to the personal data and privacy and this website in particular. cheryl: especially because facebook made business connecting to every other social media site, to my e-mail, the bank, how many times do you see that a week. >> no, absolutely, you log into facebook password so it can migrate and become a much bigger issue. again, this issue has been contained. no user data was out, but people believe it's a matter of time. when you have a billion people under the umbrella, the crooks go br -- where the money and users are, and facebook is a prime target in that sense. dennis: thank you very much. cheryl: thank you. google joining apple and microsoft taking the online
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experience to a store near you. low the web giant is building neighborhood outlets. dennis: why does everybody want to be apple? top names paying to advertise on pirate websites. cheryl: fox business continues to be open for business while the other guys are taking the day off. fine for them. there's oil, 99.32. ♪ ♪ [ male announcer ] how can power conmption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections
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let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers.
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cheryl: gas prices ticking higher for the past 31 days straight, seems to be no end in sight for high pump prices. dennis: sandra smith is here to explain today's trade. >> the energy markets trading today, oil, gasoline, all of these markets are trading electronically, at least, the pit sessions closed, but 32
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straight days now, we've seen gasoline prices rise at the pump. you see the aaa screen here. it's a national average, dennis and cheryl, $3.73 a gallon, and that number just below it? up from $3.30 just a month ago. you're talking about a 13% jump in a very short period of time. this is a very serious and very real impact on the consumer right now. the big question is does this continue? well, i was just on the phone with steven who is a big believer in that it's not just the higher oil prices, which we have seen them flirting with $100 a barrel. this is about a refinery problem in the country. doesn't matter how much oil we have here, but we don't have the capacity to refine it into gasoline. he says the more refinery close sures reported, the higher the gasoline prices go. the energy management institute, asked them for the trade on this. he says, well, the markets are getting top heavy at the levels. gasoline, you see the rise we've seen so far this year. that's a one-year chart, but
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just this year alone, it's been significant. he's saying they are getting top heavy, but short, back to the point, well, what do we do? unless we have more refineries open, it's that time of year, dennis and cheryl, where refineries shut down for maintenance. could be a heck of a lot worse before it's better. cheryl: good time. dennis: thank you very much. time to make money with charles payne. >> this fits perfectly with sandra. they make liquid natural gas engines, started with diesel, just saw how much diesel is. kenworth, peterbilt. normally trades 600,000 shares, up 8%, on the cusp of a breakout, and there's talks someone is interested in them. this company's innovative. kummis with the big pocket. this week, a breakout of 32. i think at least it can go to
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37. it's an amazing company. the future is phenomenal because ultimately, we'll have the infrastructure for liquid natural gas stations, and ultimately our cars. cheryl: if i take a chance on the stock, it's a buy and hold situation because the technology needs to catch up -- >> that would be a great way to look at it. it's a volatile stock. if you handle it, and you believe this is going to be u.ly where we go and you have to considering the success of fracking and things like that, you can buy and hold, but it's extremely volatile so traders like the stock as well. cheryl: interesting, charles payne, thank you very much. i'm going to make money when the market opens tomorrow, i know it. small businesses fighting against president obama's calls to raise the minimum wage saying it results in job cuts. the debate coming up. cheryl: yahoo charged with aiding pirate websites. we name more names coming up. cheryl: first on this president's day, the world's currencies are trading, again, currency markets are open today,
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and there you go. the euro, the pound, and more against the u.s. dollar. we'll be right back. ♪ how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account.
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>> at 24 minutes past the hour, i'm heather with your fox news minute. syria rebels pushing a major offensive that captured a government check point on a road that led to the airport. it's part of a campaign to capture a strategic facility. about -- activist groups report they shelled southern neighborhood in southern damascus and clashes rose around the military base. mindy mccready was found dead, dying yesterday of an apparent single self-inflicted gunshot wound. she struggled with addiction and mental health leaving behind two sons. hugo chavez is back home after cancer for two months in cuba. that is your fox news minute.
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back to dennis. dennis: thank you very much, heather. here's a shocker, turns out the biggest brands in the world are paying to advertise on websites that let users illegally download pirated copies of movies and music according to the study by the innovation lab, and its director joins me now from los angeles. thanks for being with us. do you really feel like the big brands, at&t, samsung, come police sit in promoting illegal, digital piracy. >> i think in a way they are. they don't really know how well their ads are put on pirated sites, but i think once they begin to think about it and control how their ad agencies and ad networks disperse their ads, i think this will change. i mean, we found, quite obviously, that certain brands like ford and coke are never on the sites, but other brands,
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like major car brands and insurance brands, are all over these sites. dennis: the ad networks who place ads for the brands, running some of the brands that are frequently appearing on the digital pirated sites now, and ad networks can block brands from running on porn sites and do that capably. why don't they block these on pirated sites? is it they don't care enough about piracy? >> i think it's money. i think there's a lot of money to be made on placing ads on pirate sites. there's over 150,000 pirate sites on the google transparency report. there's a lot of money in it. some firms, like google and open x, have quit the market and stopped pushing ads under the pirated sites, but a lot of other firms like yahoo and propeller ads continue to service the trade. dennis: i asked yahoo a comment
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on that, and they said they take appropriate steps and have user terms saying anyone using the ad network has to follow them and take it down when they are told. you feel they have not done what google has to respond to the problem; is that right? >> that's true. they -- they are on almost every big bit torrence site, and we've watched -- torrents site, and we watched google block these sites. it's not necessarily the request of the advertiser to take it down. it's really on the part of the ad network, themselves to block access to the sites. dennis: your lab gets a few million dollars a year, i think it is, from company donors, companies like microsoft, and google, i think, has helped. have you got pushback from companies that want to fund you, might fund you, or do, they don't like you calling out
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brands saying they are accomplices to piracy? >> well, first of all, google has never given us money. microsoft has, but other big tech companies like ibm and intel and cisco helped fund the lab. we have not, and, quite honestly, we did name one of the companies that funds our lab, verizon, in this report, so we're not trying to protect anybody. dennis: right. you manage music acts in the past, and you actually produced the movie, "mean streets," and you -- do you feel like this piracy problem could do to hollywood and movies and tv shows what piracy did to music? is it that bad? >> well, imagine the speed of broadband is increasing. if you look in certain partnered areas that we work this, such as chattanooga, where epb has a one gig bit per second fiberoptic
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link, the time to download a movie over that link is about 70 seconds. dennis: wow. >> to download an hd movie. dennis: we are all pirates and can get anything we want. this could be cutting off the source. thank you for being with us today. john, good luck in the crusade, sir. >> thank you very much, dennis. dennis: okay. cheryl: if your name is boeing, you can't catch a break. with the dreamlines grounded, company engineers may vote to strike this week. we have the "west coast minute" coming up. don: can you believe that? there may be a google store in a mall. cheryl: the fight over raising the minimum wage, as you imagine, small business owners not happy about this.
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dennis: small business fighting back against president obama's call to raise the minimum wage. debate on whether it's a job killer or creator. the push for alternative energy. we have the smart money bets to show you how to adjust your energy portfolio, and just forget the whole idea, makers mark reverses plans to water down the bourbon. consumer feedback, baby. cheryl: all right. why wait for the small business story? employees cheer the president's plan to raise minimum wage to $9 an hour, but will the move hurt small business?
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joining me now, the economic policy institutee good friend of the show and drew, thank you to about of you. christian, you applauded the president's comments in the state of the union speech saying nine bucks an hour, but, christian, he said it was going to be $9.50. that never happened. why the change of tone here? >> well, you know, cheryl, you know me well, and i applaud the president's move, and, you know, what he's proposing is really ad moviesest increase -- modest increase in line with our still struggling economy. let's not lose sight of the fact that minimum wage is lower than it was in the 1960s. in the meantime, productivity soared. you can tell minimum wage employers you can have employees twice as productive as a lower wage than the 1960s, surely, they'd take that deal, wouldn't they? cheryl: at the same time, to drew, many small business owners say, look, we're trying to keep
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our businesses at 50 employees and less of that threshold because of health care. now you tell me that the employees that i do have also have to pay more, at least on a federal level, doesn't that make the small business owner less willing to hire? >> hi, this is drew from marlin stehle, yes, i believe that if you raise the minimum wage, what's going to happen is you're raising the cost for the owners of companies, and they're going to have a tough choice. what do i do? they'll say, you know, i need less of these people. right now, 24% of the teenagers are unemployed. that's an outrageously high number. in the minority section of up employment, it's 38% or 39%. what's going to happen is we're going to make these people even less market marketable. companies say, you know what? we'll take a pass and not hire people. the unemployment rate's going to go from 24% to a higher number
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for the people, and we want those people in their first job, learning skills, we want them moving up the chain so that they can get raises, and they can grow and learn about how to function in our society. we don't want them -- cheryl: understood. christian? >> that presumes employers carry employees out of the good of their heart, and they don't. it's to produce a level of efficiencies and profits. right now, those employers are as lean as they can possibly be when it comes to their labor force. increasing the minimum wage is not going to result in job loss, what it will result in is much more money being spent in the economy and less taxpayer money being spent on social services to support people who are living in deep poverty. cheryl: but, drew, -- go ahead, sir. >> if you pay somebody $7.25 an hour, and you're forced to pay them nine bucks an hour, in some cases, not all, in some cases,
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owners of companies will say not interested. i'm not going to do it. they won't hire the people, or they'll have less people in their organization. my company, we pay three times the minimum wage, but there's many industries like the restaurant industry and farming, ect., where minimum wage is common. what happens is the entities say, you know what, we'll use less busboys. this is really going to hurt employment of teenagers and, particularly, minorities. this is a very bad thing for poor people. cheryl: the under employed of the nation. christian, drew, gentlemen, thanks to both of you want i want to continue the discussion another day. thanks, guys. >> thank you. dennis: these days, seems like everybody wants to be apple. google copying a page from the apple playbook and may open retail stores of its own. apple stores revolutionized retailing with $14 billion a year in sales. now, google will open the first
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few stores by late this year according ninetofivegoogle.com. they'll sell some stuff online and in some u.s. retailers. cheryl: time for the "west coast minute," sad news in los angeles. legendary laker's owner has died from complications related to cancer. plus, the majority owner of the team died this morning at the age of 880. a self-made millionaire, bought the lakers back in the year 1979. an nba hall of fame, buses oversaw ten nba championships with the lakers. boeing's engineer's union, 23 members strong, vote -- 23,000 members strong, vote this week to decide whether or not to go on strike. they are an strurmtal -- instrumental part of getting the dreamliner back up in the air. they have been grounded after a
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battery fire on one and smoke on another. taxes may be the answer to a hazelnut problem in oregon. growers have been fighting a disease that's destroying the crop. they are taxes members and using funds to research potential cures. some success, but it will take 16 months before farmers determine if they have answers. that is your "west coast minute." dennis: the president wants to divert revenue from federal oil and gas drilling to fund clean fuel technology. we have the stock plays you need to know about tennessee cheryl: and, define the critics. bruce willis sews it's a -- shows it's a good weekend to "die hard." ♪
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>> this is your fox business brief, goldman sach's chief economist says u.s. economic risks diminished, and he says the u.s. economy will grow slowly this year as tax increases and government
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spending cuts offset the private sector's improvement. starbucks is planning to more than double its staffing in the asia pacific region of more than 40,000 in five years. the coffee giant is opening stars in vietnam this month and plans to have more than 1500 cafes in china by 2015. fourth quarter revenue up 28% year over year, making the china, asia, pacific region of starbucks fastest growing. reader's die jest filed for bankruptcy for the second time in three years. they have more than $1 billion in assets and 1.2 billion in liabilities. that's the latest from the fox business network giving you th'? power to prosper. to hiderarm ♪ . axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied
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whopper flopped." companies jumped on twitter, oero and audi tweeted in the blackout of the super bowl, but what companies have not done is ensure they protect themselves against hacks. cheryl: sophisticated hack. look at burger king on twitter, some of us now getting a little offensive and racist. hopefully burger king gets on it to shut it down. it's not good. i don't recommend anybody read it at this point. spreading the energy wealth. president obama announcing a plan to divert revenues from federal oil and gas drilling to fund clean fuel technologies. what implications does it propose energy security trust have on oil and gas companies in your bottom line? joining me, the ceo, chris, good to talk to you about this industry, jr. industry. i can't imagine what you thought when you heard the president talk about an energy trust taking your revenues and directing them to renewable fuels. how did you feel about that,
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chris? >> cheryl, thank you for having me on. i was not happy about it. look at the track record, the government running other types of government programs, they had issues there. having a slush fund set up for bureaucrats to be able to invest in pie in the sky technologies as they see fit, i don't think really benefits the american public or the consumers, and i think what it is, more than a tax, and i think when you look at the $10 billion a year that is generated from federal lands, from oil and gas royalties that go to the government, that money should be better spent on other programs, not investing back in continuing technology that has not worked in the past. keep in mind, the president invested already $7 billion in solyndra and others who filed bankruptcy. i'm all for an even playing field, but what the president's doing is forcing the american public down one road, and not letting them choose goods or services they choose for themselves. cheryl: to be clear, this has
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nothing to do with increasing the amount of drilling on federal lands. it's revenues generated from drilling already approved on federal lands, and z -- as you know, it's a big environmental fight across the country, in alaska, and all of that. what about the private sector in all of this? i mean, do you believe the private sector could, indeed, build the renewable wind-solar sector on its own? is that even a possibilities? i know that that's the competition in your mind, but, you know, all of us would like to, you know, breathe cleaner air in the next 10-20 years. >> it's an attractive proposition. i think any industry, you know, profit drives any industry to build a better mouse trap, if you will, so nothing different for clean energy or renewable energy. i don't understand why this seems to be the one focus of our administration where they plow unlimited amountings of money towards an industry already receiving $20 billion dollars over the year and has yet to create a technology that works today. if you going to do it, go for
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it. private business should dictate that pathway, should not be the government, an they should not be trying to manipulate one energy source from another which is basically taking oil and gas revenues directing that to clean energy. in a way, that's not a level playing field, and that's directing money as the president seems fit, not as the public seems fit. cheryl: chris, i have to wonder, too, what kind of public support the president gets. right now, this is president's day weekend. you got incredibly high gasoline prices right now. we had a reporter on earlier tucking about the lack -- talking about the lack of refinerying across the country so gasoline prices go higher, but the president says, no, no, no, drill, bring in renewable energies. do you think that's a problem? >> well, you know, look at the gasoline prices, 69% of the price comes from the price of the input face stock from crude oil. crude oil had a nice run over the last couple months, up 10%. gas is 44 cents higher this month than last. refineries that are switching over to the summer blends.
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they are closing down for maintenance and making the switch over. keep in mind, it's been 50 years since money was invested in the refineries in the mainstream and downstream business in the country. we definitely need more capacity. we don't need 15 blends of boutique gasoline when you look at the stocks we have. california has one, east coast has one, chicago has one. just is summer blend and winter blend, that would reduce the cost of gas. i think now is the time to discuss how we embrace natural gas as transportation fuel, not how to shift money over to wind and solar. look at europe, tribulations with green energy concerns there, it's not time to double down on a plan europe made grave mistakes, and they are retreating. it's a big mistake. cheryl: chris on the energy trust plans, chris, thank you, good to have you on the show.
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>> thanks, cheryl. dennis: time for the "media minute," action hue rows well into their 60s, both bombed at the box office in recent weeks, but 57-year-old bruce willis just defied the trend. his fifth "die hard" film, 25 years after the first one, raked in $33 million in four days in the u.s. for "a good day to die hard," the fron chias, the former police detective, bad luck with terrorists when he takes a vacation, brought in $1.1 billion for the first four films. "washington post" says he's armed in crazy, and it ends not a moment too soon, and the "new york daily news," completely joyless, and "the associated press" called it a barrage of chaos. ouch. bruce rocked it overseas.
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cheryl? cheryl: i like that. i need to see the movie. many hit the road this holiday weekend means big business for hotels. why you may want to reserve some room in your portfolio for this group coming up in 2013. dennis: big business in far east, how disney hong kong finally is turning a profit. this is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers.
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dennis: hotels hit hard in the slump, but long last, returning to the peak of 2007. joining us now with tips on how to play it, david lobe of rw bear. thank you for being with us, david. occupy, rooms up in the forecast. too late to buy stocks to trade on this? >> it's pretty late for a lot of the stocks, but there's still a
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few interesting opportunities. we think evaluations are full, particularly for the owners, but the brand companies look a bit more attractive to us, and there's some owners interesting as well. dennis: you like marriott. start there. >> marriott's the top pick. it is a leading brand company, trades at 10.had # -- 10.4 times 2014 earnings, a cash flow machine based on long term fee income from management contracts and franchise agreements using that free cash flow to buy in stock in a big way and grow their business. nay are building three hotels on balance sheet, and we think they sell one of those this year, maybe two. that's an added catalyst. dennis: tell us about hersha. >> a billion dollar market cap, the dominant own of select service hotels in new york. this is courtyards and hampton inns in new york city. that's half of the cash flow. the rest comes from other major markets in the east and west
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coast, and their margins are high because of this. new york city's been seeing a great deal of demand growth. we encourage this is an an tractive trade on that. dennis: all right. lastly, hospitality perspective trust, what's that? >> hospitality trust, they own hotels in a unique structure that decreases volatility. it's a 7% yield for a company with an investment grade balance sheet, and we see dividend growth in the year ahead. it's an attractive play for investors looking for some kind of cash return these days which is hard to come by. dennis: nicely done, sir, we appreciate you being with us. cheryl: reits are great. anyway, is the united states going the way -- are we going to become greece? latest edition, and ashley webster and tracy burns talk about that in the next hour of
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"markets now." dennis: president obama's plan leaked. the marts closed, but fox biz, we are open, baby. ♪ oh this is lame, investors could lose tens of thousands of dollars on their 401(k) to hidden fees. is that what you're looking for, like a hidden fee in your giant mom bag? maybe i have them... oh that's right i don't because i rolled my account over to e-trade where... woah. okay... they don't have hidden fees... hey fern. the junkrawer? why would they... is that my gerbil? you said he moved to a tiny farm. that's it, i'm running away. no, no you can't come! [ male announcer ] e-trade. less for us. more for you. >> announcer: you never know when, but thieves can steal your identity and turn your life upside down.
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